Avenira Limited announced that the transaction undertaken to sell the Company's interests in the Baobab Project and Novaphos has now completed. Now that the transaction has completed, Messrs Tim Cotton and Louis Calvarin have resigned from the Board and have been replaced by Mr. Kevin Dundo and Ms. Winnie Lai Hadad as non-executive Directors. The Board intends to conduct a strategic review of the Company and its assets as part of setting a new direction, with further updates to be provided shortly. Mr. Dundo is a practicing lawyer, specializing in commercial and corporate law and in particular, mergers and acquisitions, with experience in the mining services and financial services industries. Mr. Dundo is also a director of Red 5 Limited and Cash Converters International Limited. Ms. Lai Hadad has expertise in change management, corporate governance and business process improvement and has been involved in listings on the Australian Securities Exchange. Ms. Lai Hadad has been involved with both investments into China and out-bound investments from China. Her past roles include implementing Coca-Cola bottling strategies into Greater China and administering the first Chinese direct investment in an iron ore mine in the Pilbara Region of Western Australia. Ms. Lai Hadad is also a director of Vonex Limited.